![]() Its efficient operating model enables it to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of “traditional” banks. It is focused on technology, innovation, easy-to-use products and education with the mission of being “customer-obsessed” and creating “customers for life.” BankMobile employs a disruptive, multi-partner distribution model, known as “Banking-as-a-Service” (Baas), that enables the company to acquire customers at higher volumes and substantially lower expense than traditional banks. BankMobile, named the “Most Innovative Bank” by LendIt Fintech in 2019, provides an alternative banking experience to the traditional model. The new accounts that BankMobile is working on with Google will be available to customers in 2021.Įstablished in 2015, BankMobile is a division of Customers Bank and among the largest and fastest-growing mobile-first banking platforms in the U.S., offering checking and savings accounts, personal loans and credit cards. Through this distribution channel, BankMobile serves one in every three college students in the country. Today, BankMobile provides its BaaS platform to colleges and universities through BankMobile Disbursements, which serves more than five million students on nearly 800 campuses nationwide. Named “Most Innovative Bank” by LendIt in 2019, BankMobile has a disruptive, multi-partner distribution model, known as “ Banking-as-a-Service” (BaaS). Launched in January 2015, BankMobile’s mission is to provide a compliant, mobile-first banking experience that is simple, affordable, and consumer-friendly. “We believe that we can use our technology expertise to benefit users, banks and the entire financial ecosystem.” “Google is excited to partner with BankMobile in enabling a digital experience that is equitable for all and meets the evolving needs of a new generation of customers,” said Felix Lin, vice president of Payments Ecosystems at Google. Through our collaboration with Google, we believe we can provide the appropriate financial tools to help them navigate through these difficult situations successfully,” said Sidhu. “Many college students today are struggling to manage their money as they work part-time and attend school. Google’s expertise in building great user experiences and highly-scaled and secure infrastructure is a great complement to BankMobile’s financial and regulatory expertise and its unique customer acquisition funnel in the higher education segment. This enables both BankMobile and Google to bring the best of their respective strengths to the table. Google will provide the front-end, intuitive user experience. The digital checking account will be built on top of BankMobile’s existing banking infrastructure and the accounts will be FDIC-insured. By collaborating with Google, we can provide millions of college students across America with an even better banking experience to help them manage, save and grow their money.”Ĭustomers who sign up for these accounts will be able to manage their accounts through Google Pay and have access to financial insights and budgeting tools to stay in control over their transactions. “Today, BankMobile serves approximately one in every three college students through our relationship with ~800 campuses across the country. “We are thrilled to be collaborating with Google to offer our customers enhanced digital bank accounts,” stated Luvleen Sidhu, Co-Founder and CEO, BankMobile. 03, 2020 (GLOBE NEWSWIRE) - BankMobile, a division of Customers Bank, and among America’s largest and fastest-growing mobile-first banks, today announced an execution of an agreement with Google to introduce digital bank accounts, which will be available to its customers. ![]()
0 Comments
Leave a Reply. |